The US Trade Commission has terminated countervailing duty and antidumping investigations on imports of Polyethylene Terephthalate (PET) from India, Indonesia and Thailand. This negates the departments’ earlier determination that imports of PET from India are subsidised and sold in the US at less than fair value with subsidy duty ranging from 6 to 20% and Anti Dumping Duty ranging from 21 to 52%. Hence, the antidumping and countervailing duties which were temporarily imposed by the US Department of Commerce stands withdrawn.
In its ruling dated April 19, 2005 the United States International Trade Commission (ITC) in a 5:1 vote determined that the US industry is not materially injured or threatened with material injury by imports of PET resin from India. This is a significant victory for Indian producers of PET resin. The ruling also benefits US customers, giving them wider options to source PET globally for better business opportunities from manufacturers such as Reliance Industries, South Asia Petrochem and Futura Polyesters.
22-Apr-05 
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